Argentine President Alberto Fernandez filed a legal complaint against election frontrunner Javier Milei after the outsider encouraged citizens to stop saving in pesos, heating up the presidential race with just 10 days to the key vote.
Milei’s campaign spokesperson confirmed Fernandez, who isn’t seeking reelection, had lodged the complaint against Milei and other candidates on his party’s ticket for “inciting public fear” under a penal law that would entail two to six years in prison if convicted. Fernandez’s chief spokesperson, Gabriela Cerruti, didn’t respond to a request for comment. Such legal complaints are common in Argentina and often don’t advance beyond initial stages.
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Banks, investors and politicians have criticized Milei this week for comments seen as one of the drivers in the peso’s selloff in the black market, where one dollar has gone from 800 pesos to over 1,000 within a week.
At a news conference Wednesday, Milei accused Fernandez of “trying to dirty the electoral process.”
“The government knows that we are only a few points away from winning in October,” Milei said, referring to an outright victory instead of going to a runoff vote in November.
Read More: Argentina Banks Criticize Milei’s Comments on Saving in Pesos
Milei is rounding on Argentina’s currency because his top campaign promise is to dollarize the economy, swapping out the peso for the dollar as the country’s legal tender. Milei even quipped that the more the peso depreciates before the next government takes over Dec. 10, the easier it would be to dollarize, a comment seen as fueling fear about another peso devaluation.
Fernandez, who has historically low approval ratings, has largely stayed out of the election as Economy Minister Sergio Massa is the incumbent party’s candidate. Their coalition finished third in the August primary vote, while Milei shocked the nation by finishing in first.
